Zacks Investment Research upgraded shares of Safeguard Scientifics, Inc (NYSE:SFE) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $14.00 price objective on the stock.
According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “
Safeguard Scientifics (NYSE:SFE) opened at 12.35 on Wednesday. The company’s market cap is $251.50 million. Safeguard Scientifics has a 1-year low of $10.60 and a 1-year high of $14.75. The company has a 50-day moving average price of $12.50 and a 200-day moving average price of $12.62.
Safeguard Scientifics (NYSE:SFE) last released its earnings results on Thursday, March 2nd. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by $0.06. During the same quarter in the prior year, the firm posted ($0.69) EPS. On average, analysts expect that Safeguard Scientifics will post ($1.35) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in SFE. First Manhattan Co. boosted its stake in shares of Safeguard Scientifics by 0.8% in the third quarter. First Manhattan Co. now owns 1,706,480 shares of the company’s stock valued at $22,115,000 after buying an additional 13,117 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Safeguard Scientifics by 3.2% in the third quarter. Bank of Montreal Can now owns 467,948 shares of the company’s stock valued at $6,064,000 after buying an additional 14,467 shares during the last quarter. State Street Corp boosted its stake in shares of Safeguard Scientifics by 2.4% in the fourth quarter. State Street Corp now owns 347,275 shares of the company’s stock valued at $4,671,000 after buying an additional 8,253 shares during the last quarter. Goodman Financial Corp boosted its stake in shares of Safeguard Scientifics by 0.9% in the third quarter. Goodman Financial Corp now owns 263,286 shares of the company’s stock valued at $3,412,000 after buying an additional 2,276 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Safeguard Scientifics by 4.4% in the third quarter. United Services Automobile Association now owns 237,688 shares of the company’s stock valued at $3,080,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 77.30% of the company’s stock.
About Safeguard Scientifics
Safeguard Scientifics, Inc provides capital, as well as strategic, operational and management resources to growth-stage businesses. The Company participates in early- and growth-stage financings. The Company operates through two segments: Healthcare and Technology. The Healthcare segment’s companies focuses principally on medical technology (MedTech), including diagnostics and devices, and healthcare technology (HealthTech).
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